$100 million purchase price funded by 100% debt. (This is before I did free cash flow forecast for # 9). It will provide the highest tax shield of $17.49 million for CPP. In addition‚ Pinkerton has the highest value of $107.34 million under this strategy. 7. Below is the balance sheet after CPP and Pinkerton acquisition. * CPP market value leverage ratio is 7.46% and book value leverage is 14.69% before acquisition. * After acquisition‚ with $75 million debts‚ the market value leverage
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4645 5 13.4645 4.3605 1.2 0.792 8.019 5 13.019 4.131 1.5 0.99 7.5735 5 12.5735 3.9015 2 1.32 7.128 5 12.128 3.672 3 1.98 10.38693 cost of refinance 10.93542511 NPV CPP VALUE INC OP PRFT (CPP) NET OF TAX Rs. 13.38 NPV DEBT COVERAGE FCF (PINKERTON+CPP) CPP ORIGINAL TOTAL FCF(POST ACQ) DEBT SERVICE REQMT 16.60912 16.73458 16.03871 2 2.8 3.1 9.40854 10.77897 4.3 4.4 18.60912 19.53458 19.13871 13.70854 15.17897 13.91 13.4645 13.019 12.5735 12.128 POST DEBT FCF 2.3 4.699124 6.070076
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Exhibit 1 Selected Pinkerton’s Financial Data (in $millions) 1983 1984 1985 1986 1987 (E) Income From Services Cost of Services provided Gross Profit Operating Expenses Operating Profit Cash Accounts receivable‚ net Other current assets Total Current Assets Net property‚ plant‚ and equipment Total Assets Accounts payable Accrued expenses ad other current Liabilities Total Current Liabilities Exhibit 2 $ 296 265 32 16 16 4 49 53 11 64 0 29 $ 308 275 32 17 15 3 51 54 11 65 1 29
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Pinkerton Group Project Executive Overview The security guard services industry consisted of two segments: proprietary guards and contract guards. The historical growth was driven by companies realizing‚ that contracting guards allowed them gain operating flexibility instead of managing their own security personnel. In 1987 security guard services was a $10 billion industry growing at 6% a year. Due to the industry being very mature‚ fragmented‚ and price competitive there was an ongoing
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Biography of Allen Pinkerton Heather Smith CJS/250 08/02/12 Denise Mowder Allen Pinkerton was a man that people automatically respected. He was a man that had a sight for security and many different companies looked to him for help with their security problems and to make sure that their businesses were safe. He could also do things and go places that the public police could not. In 1855‚ he was asked by six Midwestern railroad companies to establish a railroad police agency‚ and at this time
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Coughlin Allan Pinkerton Scottish emigrant and abolitionist Allan Pinkerton founded America’s first detective agency and successfully brought down some of the country’s most ruthless criminals. However‚ in 1874‚ he tried to take on the James brothers‚ and he failed. The man dubbed America’s first "private eye" was born near Glasgow‚ Scotland‚ on July 21‚ 1819. Involved as a young man in radical politics‚ he was forced to immigrate to America in 1842. Pinkerton and his wife settled
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Allan Pinkerton was born 1n 1819 in Glasgow Scotland. Pinkerton immigrated to the US in 1842 and settled in Chicago Ill. He opened a barrel making shop just outside of Chicago. Pinkerton was an avid fan of Abraham Lincoln. Like Lincoln he was an abolitionist. He used his small shop as part of an underground railroad for assisting slaves who were moving north for freedom. His first adventure in detective work was a mere coincidence. While Pinkerton was gathering wood for his shop he discovered counterfeiters
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Biography of Allan Pinkerton Mona London CJS/250 Introduction Security 05/26/2013 In this paper‚ we will examine the life of Allan Pinkerton. We will examine how his history with law enforcement influenced the major events that involve the Pinkerton Detective Agency during his life. The last topic of discussion will cover the impact of the agencies innovations on law enforcement and the private security industry. Allan Pinkerton was born August 25‚ 1819 in Glasgow‚ Scotland. He began working
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Biography of Allan Pinkerton CJS/250 November 30‚ 2011 Sean Wilson Biography of Allan Pinkerton Introduction Allan Pinkerton was very influential regarding private security. Pinkerton presented ideas as well as actually demonstrated the benefits for private security in comparison to public policing. This paper will not only introduce Allan Pinkerton but will also briefly describe the impact of his ideas on private security. The Beginning Allan Pinkerton was born August 25‚ 1819‚ in Glasgow
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Biography of Allan Pinkerton CJS 250 Axia College UOP Allan Pinkerton is without a doubt one of the most famous figures in the Detective history. In his long and varied career he was called a traitor and a patriot‚ an outlaw and a police officer‚ a thug and an idealist‚ a left-leaning political activist fighting for the plight of the workers and a hired goon for bosses‚ a defender of liberty and a tramper of rights‚ an immigrant and a drunkard‚ a rogue‚ an adventurer and a barrel maker
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